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: the battle over raising the debt ceiling, house democrats urge president obama to use authority the white house believes he does not have. >> congress has the responsibility and sole authority to raise debt ceiling. >> 20 house democrats sent a letter to the president about house republicans withholding support without the spending cuts and they won in the event they follow through on this reckless threat we support the use of 14th amendment. the 14th amendment says the validity of the public debt shall not be questioned. leader of the house democrats urged the white house to ignore congress in this case. >> i would do in a second. i'm not the president of the united states. >> the house republican leadership aide says democrats refuse to responsibly address the spending problem and rather than offer solutions they choose to advocate their responsibility. speaker boehner and the house g.o.p. leadership team said the debt limit must be accompanied by reform in greater amount. >> we need spending cut and real tax reform to address the long-term debt problem and pave the way for long-term gr
the ceiling debate came around. and if democrats want, the debt ceiling raise, they should have harry reid produce a budget. >> i don't mean to cut you off. but senator sessions is coming on this show later on. one last one. the boehner rule, you want to raise the borrowing rule i think it is sound fiscally and plitly. >> one to one seems equal right? >> but seems like this deal $41 in tax hikes per $1 in spending cuts with middle class taxes going up, i doubt that we are going to get that either. this president has made clear he not only wants the debt ceiling raised. let's not forget, he wanted the debt ceiling eliminated. that is the kind of negotiating that he is putting forward even though he said he is going to have to negotiate. that is what he said for a long time. if the gop plays his cards right and sticks to the spending see kwaester, i think that will put obama back think the defense. stick around. we have much more cooking for you. but look, i shothought obamacar was supposed to keep costs down. we are going to tell you why. later on, team obama going all out an gun control. i
ceiling, dom congressional democrats say the president does not need to go through congress at all. you can imagine how that is sitting with congress and republicans. the state of business in america. we will find out where we are from the u.s. chamber of commerce president tom donahue. "special report" from washington starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> kimberly: it's confirmed. cyclist lance armstrong will sit down with oprah and it could be confess about the doping scandal. that is later this month. in the meantime, there are serious allegations out today about whether or not armstrong tried to intimidate people investigating the doping allegation. the ceo of the u.s. anti-doping agency talking to scott pellier in interview. >> was lance armstrong involved in intimidating the other rider tos keep them quiet? >> he was. it was tough. all the witnesses were scared. of the repercussions of them simply telling the truth. >> what could lance armstrong do to them? >> incinerate them. >> kimberly: wow! he has superpowers? then what did
: at around the same time, the debt ceiling, that is where they think the democrats fail and the republicans are in a corner. so the republicans can risk of grabbing the feed defeat from the jaws of what would appear to be this problem. >> as you remember, it was midway through 2011. 1.5 years years ago. the president of the united states said he was going to drive us off the edge of the world. neil: to be playing it fair, he has been playing it more cleverly than the republicans. >> you are comparing the fiscal cliff where the president had all the power. >> i am comparing 2011 and the way he played an extended all the bush rates. perhaps he feels cocky. i feel like noster dominus. >> now that his job is secure, he is raising taxes. neil: democrats seem to say that we are to put you put you in another boxer and if it were up we are going with a. >> two things the sequester, which isn't on $1.2 trillion cut in the budget is not -- [talking over each other] [talking over each other] >> remember that timothy geithner said that the debt ceiling was january 31. just trying to mesh that with the
ceiling house democrats said they should consider using the 14th amendment to raise the debt ceiling. -- last year you said the president had the power [inaudible] but i wonder given the president's assistants to not negotiate the debt ceiling the next time around is the white house considering revisiting the issue -- >> our position on the 14th amendment has not changed. and let's be very clear: congress has the responsibility and the sole authority to raise the debt ceiling and congress must do its job. and i think it's important as we approach to the deadline of the debt ceiling that people understand what we are talking about. because sometimes the language we use and the phrases we use here in washington make this a lot more mysterious for average folks out there than it used to be. raising the debt ceiling is simply authorizing congress to pay the bills that it's already racked up. this isn't about future spending. this is about you going to the store, the department store, and charging some goods on your credit card. you've made those purchases. the bill comes. you pay the bil
connell will somehow make him less likely to deal with democrats when it comes to the debt ceiling? >> first i would like to thank brent because all of this is great for sales of the book. it shows how you have a republican party that has a large faction, the dominant faction that has moved to the fringes of american politics and compromise is out of bounds for them. for mcconnell there's a real dilemma here that has two components to it. the first is he is up for reelection in 2014 in a state where he is no longer the king maker. he did everything he could to keep rand paul from winning nomination two years ago, and failed miserably. now he has hired paul's campaign manager, has his own campaign manager, but he has to worry a little bit about pressure from the right. and john boehner has pretty much taken himself out of the lead-dog role in negotiating with the administration and that makes it fall back on o'connell for the fiscal issues immigration, probably guns, and a host of other issues where everything that mcconnell does to reach a deal -- look at that fiscal cliff
is an economist. he is a negotiator. tracy: let's flash forward to the debt ceiling today. what do you think happens? >> i think that the democrats will hold hard on this idea that, you know what, we are tired of you go shooting with the debt ceiling. i think that republicans have leverage. it may not be above board and it may not be to embarrass the president, but, believe me, there will have to be some concessions to republicans or they will be at the edge of the cliff. it just seems to be the way they play ball on the hill. tracy: you are right, it is dÉÀa vu all over again. thank you, sir. >> thank you. tracy: make sure to tune in tomorrow at 1:00 p.m. eastern. ashley: all right. good stuff. always on point. liz claman takes us through the next hour of trading. she has an all-star lineup. of course, she does. they are talking chips and alter books in a fox business exclusive. yes, she has ten tivo. "countdown to the closing bell" is next. ♪ >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15%
the supreme court involved in the debt ceiling, and we will take you to the annual gathering of each and gadgets that the consumer electronics show in las vegas, including the world's first smart fork. i'm not making that up. they say it will appeal lose weight. stay with us. ♪ gerri: we are covering in like a blanket. what is the ♪ gerri: the world's biggest annual consumer electronics trade show. kicking off today in vegas. he would collect some of the year's most wacky gadgets is paul reynolds, an electronics editor for "consumer reports." good to see you. you have some pretty silly stuff there. i want to hear all about the smart for that is going to turn me into some kind of stuff person. how does that work? can you show me? >> this is a $99 gadget. and what it does, it is called the happy fork. what it does, it actually keeps track of how quickly you eat. you can program it to tell you if you are eating more quickly than you should to lose weight, for example, or if you have acid reflux, and it will program you to eat more slowly which is shown tell people reduce weight. you
more recently under president obama. he was a key player during the 2011 debt ceiling talks that almost shut down the government. going to have his work cut out for him. democrats and republicans on capitol hill gear up for that battle over extending the debt ceiling with the global embarrassment that serves as economic policy debate in washington these days. i have a hunch tim gheit neeith won't miss taking part in another one of those showdowns. >>> aig made the right decision, the decision not to join a crabby shareholder lawsuit against the u.s. government. probably heard by now about the lawsuit, led by former aig ceo maurice hank greenberg. it claims the terms of the $182 billion government bailout which saved the company possibly planet earth as well from financial meltdown were too harsh. the lawsuit was looking for $25 billion. pretty outrageous. but the board did have a responsibility to take a look at the lawsuit and decide whether or not to join it. the company's board met today and made the right decision. the case will go forward, however. aig won't be a party to it. the g
from the debt ceiling and cuts too deep or aimed # at the wrong program, she says, "hurt the nation in crucial areas like education, technology, science, and energy." what's on the table for cuts? no social security, no medicare, the major drivers of benefits, but are the drivers of debt and deficit. what's on the table for spending cuts? >> guest: okay. there's a lot of questions there. >> host: right. >> guest: first of all, you know, the major drivers of the current deficits are two things. tax cuts for the wealthy and wars in iraq and afghanistan. this has been well documented by economists. let's not pretend like grandmother is responsible for the deficits. she's not. i promise you. yeah, you know, what would define a spending cut, again, cutting the amount of money that would pay for prescription drugs. getting the same drugs for $130 billion cheaper by untying medicare and medicaid's hands and lay low them to negotiation. that's a cut to save money, impacting the big guy, not the little guy. you know, if we sub subsidize ie name of family farmers, agriculture corporations. we
: they don't want to raise the debt ceiling unless we break the backs of the middle class and working class. it shows where our country is and they don't stant for their constituents. they line the coffers. we need to get corporate dollars we can go on and on and on and on. >> it is interesting, as you go through that and the terrible job that congress was doing. new approval ratings. all time low, whopping 9%. people like cockroaches more than congress. a root canal. find a list of things, because they pulled people on other things. the banned nickelback they are more popular than congress. >> joining us on the show this morning, the one and only congressman peter welch, democratic stallwart. >> congressman how do you feel? i know how you feel but i think the american people want to know how you feel about this whole aig debacle. >> it's astonishing. guiterrez said don't think about it. aig was the poster child for, for the greedy self-dealing taxpayer and shareholder be damned company that e pit omized the crash in '08. the beneficiary of a bail-out from t
away from the debt ceiling and avoiding another showdown with republicans. this isn't some pie in the sky plan devised by economic wonks or sci-fi fans, it actually has supporters in congress. specifically new york democratic congressman jerry nadler who has proposed bringing the idea to the floor to use as a bargaining chip saying it sounds silly but it is legal and it would normally not be proper to consider such a thing except when you're faced with blackmail to destroy the country's economy, you have to consider things. well put. joining me now is our own platinum panel starring professor at brown university and current contributor trisha rose, forbes contributor rick unger and editor at-large for "huffington post," nick. thank you all for joining us tonight. there is a lot to cover here. i want to start with you mr. unger, since you're the guy from forbes. a trillion dollar coin. i seem to recall a simpsons episode about this. >> i wouldn't be surprised. we were talking earlier. i think what we need to do is make 16 of them. it will get us out of debt. we'll have $16 trill
conciliatory than on, for example, dealing with budget issues, debt ceiling issues, the issues coming up in the short term here. jon: but he would also like to see a democratic majority in the house for the last two years of his term defying the odds on something like that? >> correct. so there are some political strategists around washington think that really the goal here is to isolate the republican majority in the house and hopefully get a democratic majority for the last two years of the obama term. that may be a long term goal. he is a democrat obviously. jon: is that so say politics is more important than progress in the country? >> that is the crazy part. you know we don't talk about it. president's ratings are pretty good right now. congress's ratings are in the toilet but the thing is, that the american people do want people who govern, people who will do something in washington, especially when it comes to the economy. it is time to get something done. i think that is the overwhelming results we see see in poll numbers, yet both sides are positioning if they're involved in pol
go again, in the next major debt battle which has to do with the debt ceiling, the next chapter of this whole thing. they gave up on the tax hikes in the fiscal cliff deal. democrats have promised to deal with cuts during the next fight and extending the nation's credit card limit but critics say the potential nomination of the white house chief of staff jack lew to treasury secretary shows president obama has no intention following through on cuts. here is charles krauthamer on this last night. >> he is not interested in spending cuts. he is not interested in reform. he wants to defend the entitlement state. he wants to defend obamacare. even add on to it. he calls it investments. of course normal people would call it spending. and lew is the guy you want if you want to hold the fort what i call reactionary liberalism. you have the great achievements of the last century in building an entitlement state. he is the guy who would defend the for the. martha: great achievement in building entitlement society. says charles krauthamer. we have marjorie clifton and braid blakeman. good
] this came up last year and you said the president had the power to ignore the debt ceiling. i'm wondering given the president's insistence he would not negotiate over the debt ceiling this time around, is the white house considering revising that issue [inaudible] >> our position on the 14th amendment has not changed. let's be clear. congress has the responsibility and the authority to raise the debt ceiling. congress must do its job. it is important as we approach the deadline that people understand we're talking about. sometimes the language of the use in the phrases we use make this a lot more mysterious for average folks out there that needs to be. raising the debt ceiling is authorizing congress to pay the bills it has racked up. this is not about future spending. this is about you going to the store and charging some goods on your credit card. you pay the bill. the byner states has always paid its bills. congress has the responsibility and authority to do that. the president will not negotiate over it. let me go to reuters. jack lew was [inaudible] he worked for a group [inaudible]
to the debt ceiling debacle perhaps, you know, we've already heard the bid offer starting. we've heard the democrats say, look, we want more revenues. have we fixed the tax issue? i don't think the markets completely appreciating that part of the debate. $600 billion, i think obama wanted $1.6 trillion. i think boehner got us to 800. that was the bid offer, it never happened. we'll see what happens, i think. the opening bid for the democrats will be -- no, we need more revenue. >> why you -- why are you happy then? >> i'll tell you why. when we sat here in the fall, we said you have to look through the cliff in some ways when you're investing in the market. we expected gains to go to the last day. i expect gain theory to go right to the last day. >> then it will do something. >> then, guess what, are we going to default on our debt? highly unlikely. >> we'll do something half -- that's good enough because the u.s. economy is resilient. >> i hate to say it -- >> he said half [ bleep ]? >> no, he said we're making progress step by step. while it's hard to see it through all of this, he l
ceiling debate. the question is simple, do we want more debt or less debt. people like ted cruz and his colleagues say we should have less debt. republicans want less. the democrats want more get the same thing is to continue on the path we are on -- more. the insane thing to do is to continue the path we are on. we endorse responsible behavior. the only thing more irresponsible in shutting the government found it is continuing to suffocate ourselves in debt. we have 86 trillion dollars in unfunded liabilities the we have no idea how to pay. the previous guest said we could raise taxes on rich people. you could confiscate the wealth of every rich american, a new would be 30% short of the promises we have made. you cannot tax your way out of this. you need fundamental reform. we need to be serious about this. the pain of a temporary shutdown will pale in comparison to continue on the path we are on. host: what to make the fiscal cliff deal? guest: there was no good outcome. we oppose the final deal because we think raising taxes on anyone is anti-growth. we actually do not oppose new rev
Search Results 0 to 20 of about 21 (some duplicates have been removed)

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